What Is Capital Markets Board of Türkiye (SPK)?
Also known as: SPK, CMB, Capital Markets Board of Turkey, Capital Markets Board of Türkiye
In short
The Capital Markets Board of Türkiye (SPK) is the independent public authority that regulates and supervises capital markets in Turkey; under a 2024 legal amendment, the licensing and oversight of crypto asset service providers also fell within its remit.
Under Capital Markets Law No. 6362, the SPK regulates and supervises areas such as stocks, debt instruments, investment funds and brokerage firms. With Law No. 7518, which came into force in 2024, provisions on crypto assets were added to this law. Accordingly, platforms that intermediate crypto asset trading and those that provide custody services were defined as crypto asset service providers (CASPs) and became obliged to obtain permission from the SPK in order to operate.
With this regulation, the SPK gained the authority to set the establishment requirements, capital adequacy, information systems security and rules on the protection of customer assets for cryptocurrency exchanges operating in Turkey. The authority defines detailed rules through secondary regulations and shares lists related to operating permit processes with the public.
The SPK's authority does not cover every matter in the crypto asset field. Obligations aimed at preventing the laundering of proceeds of crime fall under MASAK, and rules on the use of crypto assets in payments fall under the Central Bank of the Republic of Türkiye; taxation is addressed under separate legislation. Users can check the status of the platform they trade on from the lists on the SPK's official website.
Last updated: · This content is for information purposes only and is not investment advice.